Norfolk Southern (NYSE:NSC) Price Target Raised to $316.00 at Citigroup

Norfolk Southern (NYSE:NSC) had its price target lifted by Citigroup from $302.00 to $316.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the railroad operator’s stock.

Several other research analysts also recently commented on NSC. Bank of America raised their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Barclays lifted their price target on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $274.89.

Norfolk Southern Stock Down 1.4 %

Shares of NSC opened at $267.45 on Tuesday. The firm has a market capitalization of $60.51 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.57 and a beta of 1.30. Norfolk Southern has a 12-month low of $195.76 and a 12-month high of $277.60. The firm has a fifty day moving average price of $252.07 and a 200-day moving average price of $238.05. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $2.65 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Norfolk Southern will post 11.81 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 50.70%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Coastline Trust Co acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.